This would be interesting if I could play DVDs regardless of region code or color system (PAL or NTSC)

Well it can already play PAL/NTSC if the disc is region free (or in the region your player can read)..

But I agree, how about region-free DVD/Bluray enabler.. hehe.. when the Registry-utility arrived it was mentioned that the region was set in the registry, but I never heard anything about it actually working when you change it. (I still can't check since I still haven't jailbroken my FW3.15)..